Ecp Controlco, Llc Acquires 36,238 Shares of Shenandoah Telecommunications (NASDAQ:SHEN) Stock

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) major shareholder Ecp Controlco, Llc acquired 36,238 shares of Shenandoah Telecommunications stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $12.58 per share, with a total value of $455,874.04. Following the completion of the purchase, the insider now directly owns 2,599,274 shares in the company, valued at $32,698,866.92. This represents a 1.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Ecp Controlco, Llc also recently made the following trade(s):

• On Thursday, June 5th, Ecp Controlco, Llc purchased 13,000 shares of Shenandoah Telecommunications stock. The stock was bought at an average price of $13.19 per share, with a total value of $171,470.00.
• On Wednesday, June 4th, Ecp Controlco, Llc acquired 16,840 shares of Shenandoah Telecommunications stock. The shares were bought at an average cost of $12.81 per share, for a total transaction of $215,720.40.
• On Tuesday, June 3rd, Ecp Controlco, Llc bought 26,623 shares of Shenandoah Telecommunications stock. The stock was purchased at an average cost of $12.85 per share, with a total value of $342,105.55.

Shenandoah Telecommunications Price Performance

NASDAQ:SHEN traded up $0.27 on Friday, reaching $13.50. 207,591 shares of the company's stock traded hands, compared to its average volume of 251,706. The stock has a 50-day simple moving average of $12.29 and a 200-day simple moving average of $12.24. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The firm has a market cap of $740.57 million, a PE ratio of 3.56 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The business had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same period last year, the business posted ($0.07) EPS. Equities research analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

SHEN has been the topic of several analyst reports. BWS Financial reaffirmed a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research report on Thursday, May 8th.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Shenandoah Telecommunications by 4.1% in the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock worth $1,892,000 after purchasing an additional 5,862 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock worth $2,807,000 after purchasing an additional 6,323 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth about $2,379,000. Bank of New York Mellon Corp boosted its stake in Shenandoah Telecommunications by 8.3% during the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock valued at $5,732,000 after buying an additional 34,740 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Shenandoah Telecommunications during the 4th quarter valued at approximately $260,000. 61.96% of the stock is owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.